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January Opus Wealth Newsletter
Video: Grow more of your wealth Tax-Free with your 401k & RIP Charlie Munger
Loic LeMener
January 30th, 2024
Here is a strategy to supercharge your 401(k) and allow much more tax-free growth…
Links to other Opus Wealth Videos:
👨👩👦👦Parents corner - I’m a big believer that one of the most important things parents can do is teach our kids how to “fail well.” Here is an interesting 7-minute video that discusses some of the nuances of failure.
🎥Fantastic videos - Tim Ferriss is one of my favorite interviewers. He always seems to “peel the onion” with his guests to get to important nuances. In the post below, he shares highlights from his 2024 interviews. A little something for everybody here…
Rest in peace, Charlie.
Last month, one of my heroes, Charlie Munger passed away a few days shy of his 100th birthday. He was an intellectual giant but more importantly, a force for good in the world. So in his honor, I will leave you this month with some quotes and resources of his.
“The game of life is the game of everlasting learning. At least it is if you want to win.” —Charlie Munger
“The safest way to try to get what you want is to try to deserve what you want. It’s such a simple idea. It’s the golden rule. You want to deliver to the world what you would buy if you were on the other end. There is no ethos in my opinion that is better for any lawyer or any other person to have. By and large, the people who’ve had this ethos win in life, and they don’t win just money and honors. They win the respect, the deserved trust of the people they deal with. And there is huge pleasure in life to be obtained from getting deserved trust.” —Charlie Munger
“A few major opportunities, clearly recognizable as such, will usually come to one who continuously searches and waits, with a curious mind, loving diagnosis involving multiple variables. And then all that is required is a willingness to bet heavily when the odds are extremely favorable, using resources available as a result of prudence and patience in the past.” —Charlie Munger
“You need to have a passionate interest in why things are happening. That cast of mind, kept over long periods, gradually improves your ability to focus on reality. If you don’t have that cast of mind, you’re destined for failure even if you have a high I.Q.” —Charlie Munger
“Here’s one truth that perhaps your typical investment counselor would disagree with: if you're comfortably rich and someone else is getting richer faster than you by, for example, investing in risky stocks, so what?! Someone will always be getting richer faster than you. This is not a tragedy.” —Charlie Munger
“If it is wisdom you’re after, you’re going to spend a lot of time on your ass reading.” —Charlie Munger
“In my whole life, I have known no wise people (over a broad subject matter area) who didn’t read all the time -- none, zero... You’d be amazed at how much Warren reads -- at how much I read. My children laugh at me. They think I’m a book with a couple of legs sticking out.” —Charlie Munger
“Hard work, honesty, if you keep at it, will get you almost anything.” —Charlie Munger
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